Friday, 25 September 2015

Friday Morning Ramble, 25.09.15

“If socialism ever earns a final epitaph, it will be this: “Here lies a contrivance engineered by know-it-alls and busybodies who broke eggs with abandon but never, ever created an omelette.”~ Larry Reed, ‘Where are the Omelettes?’

“As the Megaupload saga evolves, we’ll surely hear many more claims about the legal and moral implications of the case… Nonetheless, it is important to keep in mind what allegedly happened here: Dotcom and his co-defendants made millions of dollars through the rampant theft and dissemination of countless artists’ and creators’ copyrighted works. For the sake of these artists and creators, who worked hard to produce the works that were unmercifully stolen, let us hope that Dotcom and his co-defendants are held accountable for their crimes.” Let's Get Real About Kim Dotcom: The Indictment Clearly Alleges Felony Copyright Infringement – Adam Mossoff, CENTER FOR THE PROTECTION OF INTELLECTUAL PROPERTY

“It doesn't matter how CYF is structured or how caregivers are reimbursed or how professionalised social workers are. What matters is reducing the incentives for people to produce children haphazardly, but, if they do, acting swiftly to get those children into a nurturing and stable home.” Restructuring CYF is not the answer – LINDSAY MITCHELL

Is it unfair to Kiwis that foreigners might come in and accept lower wages? A wage-earning Canadian in NZ responds. Underliving the locals – Eric Crampton, OFFSETTING BEHAVIOUR

“But it also says something pretty damning about the level of ignorance among New Zealand's business community.” Extraordinary ignorance – ECONOMICS NEW ZEALAND

Looks like a project to watch and enjoy... “called Retro RWC. We’re collecting your stories from previous World Cups. Not just the games but all the things around the games and the events. As Tim, a teacher, points out, there’s a generation of rugby fans coming through who have never known a losing All Black squad. We’d love to hear any of your stories…” It's about time – Hadyn Green, FIELD THEORY Retro RWC: Submissions

“The government today released an outline of what Local Government Minister Paula Bennett bluntly calls “loopy” rules and what they are doing to business...” The loopy rules report – KIWIBLOG

In answer to a popular client question: yes, you can now have a lockable spa pool cover instead of a fence. Common sense on spa pools – KIWIBLOG

“These are disrupted times…. Many journalists I know joke grimly about having picked the wrong career. What else do we all do? Will there be a correction, or is this the new reality?” NZME and you – Russell Brown, HARD NEWS Blood on a newsroom floor – WHALE OIL

The untold story of today’s public enemy #1. “It’s very unfortunate that the pharmaceutical industry… would be targeted by those with malicious business interests. It’s possible, however, that at least some of this system that Martin Shkreli seems to be gaming for personal financial gain is enabled by unintended consequences stemming from an FDA program established in 2006 known as the Unapproved Drugs Initiative… Although the program has reduced the percentage of unapproved drugs on the American market down to about 1 percent, it’s created a mechanism through which [large] price increases have greatly affected patients…” Pharmaceutical greed makes Martin Shkreli public enemy #1 – I.P. WATCHDOG Why One HIV Drug Costs 5,000 Percent More Overnight – HUFF POST

“The great tragedy of the current Pope's economics is that the quasi-socialism he apparently favours will actually perpetuate poverty. More people will be hungry. Jobs will be lost.” Capitalism is moral, and it works: Catholic priest – AGAINST CRONY CAPITALISM

“Now observe the relationship between the unprecedented economic growth of this era, the population growth at the time, and per capita income in the same period. Prior to the Industrial Revolution, population growth typically led to declining per capita income because the increase in people meant an increase in demand for a relatively stagnant quantity of goods, causing prices to rise. But from 1750 to 1850, while the population in England increased from 5.8 million to 15.9 million, instead of stagnating or declining, per capita income steadily rose. Why? “Capital accumulation and technological advances increased productivity, which in turn increased the quantity of goods produced. The supply of money, however, increased at a relatively slow rate (as the predominant form of money was gold). What happens when rapid growth in the supply of goods meets with slow or moderate growth in the supply of money? Prices drop so that products will sell. “From 1821 to 1914, average prices in Britain decreased at an average annual rate of 0.4 percent. This translated to an increase in real wages, as cheaper goods enabled workers to buy more (or save more). According to one estimate, between 1819 and 1851, real wages doubled. “Finally, observe what made all of this possible. The British Industrial Revolution demonstrated the great potential of man. But human nature does not change over time, so what made the difference? Why was this era so astoundingly productive whereas other eras have paled by comparison? The answer, in a word, is freedom. Individuals during this time were essentially free to act on their own judgment for their own sake.” The British Industrial Revolution: A Tribute to Freedom and Human Potential – Michael Dahlen, THE OBJECTIVE STANDARD

“If there could be anything worse than the religious right it might be the religious left…” The Religious Left – Doug Reich, THE REATIONAL CAPITALIST

“America doesn’t lack economic growth and jobs because China, or other countries, ‘steal’ them. America lacks economic growth and jobs because its own government will not permit its economy to function freely and fully.” The Myth of Stealing American Jobs – Michael Hurd, CAPITALISM MAGAZINE

“It’s easy to see why Fiorina has done so well. She may have never held office, but I’m now convinced we can’t dismiss her as a personality-driven protest vote. (I’ll let you decide for yourself who that description applies to.) What struck people about her most in the debate was not just her poise and spunkiness, but the depth of her knowledge and thinking about the big issues.” Did the Real Republican Nominee Just Stand Up? – Robert Tracinski, THE FEDERALIST

“Desperately searching for an establishment Republican who can block Donald Trump, many observers are ignoring the strong and politically astute performance of Rand Paul in Wednesday night’s Republican debate.” Ignoring Rand Paul – David Boaz, CATO AT LIBERTY

“One of the arguments being bandied about for limiting or stopping immigration is based the idea that all the people in the U.S. have some sort of collective property rights in the land.” The Flawed Private Property Argument Against Immigration – Dale Halling, STATE OF INNOVATION

“Some of the comments I read, however, gave me pause. It wasn’t because I agreed with them, or their sentiment made me question my position, but I was frankly shocked by their argument (or complete lack thereof). Many of the comments didn’t address my argument at all. In fact, many dissenters actually agreed with me that even illegal immigrants generate more benefits than costs!Then came the line, “if someone is here illegally there has to be a punishment.” “But They’re Illegal!” The Worst Argument Against Immigration – Abigail Hall, INDEPEPENDENT INSTITUTE An Apology to an Immigrant - Abigail Hall, INDEPEPENDENT INSTITUTE

“There is growing turmoil in buybacks that threatens the very fabric of the stock bubble. That was always the primary transmission of … QE3 and QE4… The fact that this reversal is seven months in the making more than suggests a potential major shift.” Revisiting Yellen’s Bubble Doctrine – Jeffrey Snider, CONTRA CORNER

“Every dictator knows that a continuous state of emergency is the best means to justify tyrannical policies. The trick is to keep the fictitious emergency from breeding so much paranoia that routine activities come to a halt.” Groundhog Day at the Fed – Peter Schiff, EURO PACIFIC CAPITAL

“Capital is therefore never something which is simply assembled, wound up, and left to run in a corner of the factory, churning out goods and gathering in revenue with no more ado than to see the odd squirt of oil injected into its finely-tuned mechanism. It is altogether a more subjective and conditional construct than that… 'Capital', we suggest, is best thought of as a negotiable property rights framework within which to exercise entrepreneurial skill in the transformation of energy and matter over time into a succession of more highly-valued, freely-exchangeable forms under conditions of risk and uncertainty.” "Capital" As Seen By An Austrian Economist – Sean Corrigan, ZERO HEDGE

“Take the notion of the efficient market. What does that even mean? Today, hordes of people are coming out of economics and finance majors believing an absurdity.” Efficient Malpractice – Keith Weiner, CAPITALISM MAGAZINE

“There are a number of things to bear in mind regarding the story about British Prime Minister David Cameron putting his thing in a pig…” On youthful indiscretions – Russell Brown, HARD NEWS

“Many people complain about how education has become so expensive. Mostly, they are wrong. Schooling has become more expensive, but consider the cost of the following awesome education resources…” Is Education Really Too Expensive? – Stephen Hicks, EVERY JOE

“Good education is a magical component of being human. Solid foundations expands our reaches as individuals and as a species. Online education will be the future - modest expense for the students, and the teachers can refine a course and make a passive income, giving them more free time to make more courses or follow their passion. “I am excited to start the process of sharing my knowledge of art…” SOLUTIONS: Video Tutorials & Courses: Give Wings to Your Creativity! – MICHAEL NEWBERRY, ARTIST

“"Working with Montessori materials, the child learns the value of focusing on reality, of exerting effort, of concentrating his mind on a task and seeing it through. He learns that he lives in an intelligible, orderly universe that he can understand if he tries. And in exerting effort and coming to understand how the world works, he programs his subconscious mind to function properly, and thus builds the capacity to learn readily and joyfully for the rest of his life." —Heike Larson﻿ The Montessori Method: Educating Children for a Lifetime of Learning and Happiness – OBJECTIVE STANDARD

1 comment:

In the late 1970s early 1980s Muldoon's government introduced a Property Speculation Tax which was intended to curb house prices escalating too rapidly. It didn't do that. What it did do, was to cost the taxpayer $9,000,000 in its first year of being imposed, to collect $900,000! Chris R.

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